Category: BASF

Ladies and gentlemen, esteemed shareholders and executives of BASF,

Allow me to paint a picture for you. Imagine a nine-year-old girl, surrounded by her loving family at the dinner table—mom, dad, and older brother. They’re sharing stories and laughter, basking in the warmth of their togetherness. Then, the phone rings, shattering the tranquility. You see, that call brought news of a man—a husband, a father, a hardworking employee—called to duty to serve his employers. But instead of returning home to his family, he met a violent end, killed in cold blood and lit up in flames. His story, once one of love and dedication, was reduced to a footnote—a mere “necessary sacrifice” in the pursuit of profit and production – by Lonmin, by Sibanye-Stillwater, by BASF. Weiterlesen

My name is Ndikho Jokanisi Bomela. I was nine-years-old when I became an orphan after my father, Semi Jokanisi, was killed on August 13 2012 in Marikana.

I am a man now. I have been to entabeni, the mountain, to perform the Xhosa cultural initiation rites to become a man. But I am also a man because I have had to grow up fast after my father was killed.

My father died for a wage of R12500, which BASF’s suppliers of platinum, Lonmin, refused to engage with the striking mineworkers about — colluding instead to have the strike resolved by the South African police. Weiterlesen

Re agenda item 2: Appropriation of profit

The Association of Ethical Shareholders Germany proposes that the appropriation of profit proposed by the Board of Executive Directors and the Supervisory Board be rejected.

Rationale:

Once again, the proposed dividend, which is unchanged from the previous year, is too high. Instead of cutting jobs and investments in the urgently needed socio-ecological transformation of all BASF divisions, the dividend should be reduced. The current dividend policy is not sustainable, it is in fact a waste of resources: the proposed dividend amount of over EUR 3 billion can already no longer be paid from the free cash flow of EUR 2.7 billion in 2023. Weiterlesen

Re agenda item 2: Appropriation of profit

The Association of Ethical Shareholders Germany proposes that the appropriation of profit proposed by the Board of Executive Directors and the Supervisory Board be rejected.

Rationale:

The proposed dividend, which remains the same as in the previous year, is too high. A significant reduction would be appropriate in view of BASF’s investment needs and its ailing economic situation. A look back shows that income from operations (EBIT) fell significantly in 2022. In addition to the write-downs on Nord Stream 2, it is above all the massive write-downs on Wintershall Dea’s fossil fuel business in Russia that have given BASF an investment result of a record-breaking minus €4.9 billion in 2022. Weiterlesen

Re agenda item 3: Adoption of a resolution giving formal approval to the actions of the members of the Supervisory Board

The Association of Ethical Shareholders Germany proposes that the actions of the members of the Supervisory Board for the 2021 financial year not be approved.

Rationale:

The Supervisory Board is still unable to credibly fulfil its role as the controlling body of the Board of Executive Directors in order to supervise BASF’s realignment independently, critically and constructively.

Shareholders’ dissatisfaction with the Supervisory Board remains high: At the 2021 Annual Shareholders’ Meeting, almost 20 percent refused to approve the actions of the Supervisory Board under the new leadership of Dr. Weiterlesen